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Banque du Liban in Jounieh. (Credit: P.H.B./L'OLJ) Add as preferred on Google BEIRUT — Banque du Liban (BDL) revoked the license of Iranian bank Bank Saderat this week amid increased U.S. pressure on countries to reduce their economic ties with the Islamic Republic.The move aims to “send a clear signal to the outside world that we are determined to protect our banking sector from any entity that might cause it a risk of contamination,” BDL Gov. Karim Souhaid told Bloomberg.The move comes amid a regional tightening of restrictions on Iran’s financial system, particularly in the United Arab Emirates and Turkey, as the U.S. steps up pressure internationally, attempting to isolate it economically into accepting its terms for ending the war.Bank Saderat is one of Iran’s oldest commercial banks and operates several branches abroad, Bloomberg reported.“We saw that all other bigger, stronger economies like the... You have reached your article limitStay informed about a Middle East in crisis.Subscribe for $0.5/month for the first 3 months. Subscribe now Log in This article is only available to L’Orient Today subscribers. Subscribe now Log in Create a free account to continue reading this article. You’ll also receive The Morning Brief, our must-read daily digest of Middle East news. Opt out anytime Email Address Password Email Address Password I would like to receive special offers from L'Orient Today as well as selections of the best articles. Register By creating an account, you agree to the terms and conditions of use and our privacy policy. Register Or register with: Facebook
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